NNS Proposal to create an SNS named 'ICPanda DAO'

[Antony]

@zensh

Our goal is not to create merely a meme coin, but rather a brand operation platform with a meme-like nature. We aim to integrate Web2 and offline brand operations into the Web3 space. In other words, it’s about bringing Web3 to Web2 and offline brands.

I mentioned the ICP Panda as a meme token in response to your earlier assertion about meme tokens on the ICP platform.

Without sufficient marketing, how can we expect to succeed and compete with meme tokens on other chains? I’m concerned that without a marketing budget, our project may become just another token on the IC platform, although it’s acceptable for us since our focus is on building more products and launching tokens.

But again This will lead to launching a series of shit tokens via SNS.

[wikizhao52]

Hi, @Antony
We fully understand your concerns regarding market operations.
I’d like to explain that we have designed a lucky draw pool feature in our product, where users need to pay ICP to get random PANDA tokens. Our project offers a lower barrier to participation, then focus on enhancing user engagement at the product level to earn ICP. The earned ICP will be considered for operational funding. This feature has the potential to raise up to approximately 200,000 ICP at its maximum limit.

[Bevis]

The design of your token lucky pool is very interesting, but the valuation of SNS sales is too high. If the upper limit of sales is lowered to 12,000 ICP or 200 million ICP, it will become popular. The upper limit valuation of 60,000 has reached a market value of nearly 7 million U

[zensh]

Your spelling might be incorrect; the fundraising cap is 60,000 ICP, which, at the current rate of 12.6U/ICP, equals 756,000 U.

[Bevis]

Yes, I calculated it wrong, but it still feels a bit high. I don’t know if funds from the community fund will be used.

[Bevis]

At what stage has the project development progressed? We still haven’t seen the implementation of the corresponding functions?

[zensh]

Over half of the DAO fund’s ICP will be used to provide liquidity for the DEX.
All ICP from the lucky pool will be used to provide liquidity for the DEX.

[Bevis]

I’m talking about the total market value reaching 7 million U

[zensh]

@Bevis

At what stage has the project development progressed? We still haven’t seen the implementation of the corresponding functions?

Lucky pool canister is implemented

ldclabs/ic-panda/blob/main/src/ic_panda_luckypool/src/api_update.rs

The frontend will be online by proposal after SNS DAO finished.

The development of the Panda Badges System and NFT Platform will commence one by one after the SFT canister implemented.

GitHub - ldclabs/ic-sft: A SFT (Semi-Fungible Token, implemented ICRC-7 and...

[zensh]

@Bevis

I’m talking about the total market value reaching 7 million U

Yes, because 50% of the tokens will go into the lucky pool for lucky draws and free airdrops:

1. We can distribute tokens more fairly to more people;
2. The ICP revenue from lucky draws will also support the total market value.

[Bevis]

If no one participates in the lucky pool, the team’s 4%+4% share accounts for 40% of the circulation, which is 4 million coins, and the remaining 6 million coins are invested by investors in real money.

[zensh]

@Bevis

If no one participates in the lucky pool

If the token price increases, there will definitely be participants in the lucky draw, as you can win a minimum of 1000 tokens and up to 100,000 tokens for 1 ICP.

[Antony]

Where are you planning to create liquidity?. Will you create liquidity in both dexes (ICP Swap and Sonic)?

[zensh]

@Antony

Will you create liquidity in both dexes (ICP Swap and Sonic)

Yes, there’s also ICLighthouse. However, our initial ICP is limited, so we will gradually create liquidity pools for this DEXs.

[domwoe]

Hey @zensh,

I haven’t looked at the project in detail but from what I understand the lucky pool will custody user funds. Do you have an external security audit of the contract code?

See DFINITY’s voting guidelines for reference:

@bjoernek

Security aspects

• In general, it is considered to be best practice to conduct a security review including the fixing of risky findings. Guidance on security best practices is here .
• Hence, a project should explain to which extent security reviews are relevant for the dapp and what kind of security reviews have been conducted for the dapp if applicable.
• Core functionality of the DAO should be open source.

[zensh]

Hi @domwoe ,

The Lucky Pool does not custody users’ funds but stores the funds of the ICPanda DAO, including:

1. 50% of the SNS tokens, which will be distributed to users through free airdrops and lucky draws;
2. The ICPs obtained through lucky draws, which will be regularly transferred to the DAO treasury. The source code can be found here:

ldclabs/ic-panda/blob/main/src/ic_panda_luckypool/src/api_admin.rs

I am interested in security audits and will engage with this knowledge. Future functionalities may involve security auditing.

[wikizhao52]

Feature Update:
Can’t wait to introduce the upcoming new feature - the Lucky Pool! We’re currently in the testing phase, and we’ve successfully implemented all processes.

Here’s what the Lucky Pool offers:

1. Airdrop: Every user who logs in can claim 100 FREE PANDA tokens - a welcoming gift from us to you! Moreover, you’ll receive a unique lucky code. Share your link, and when others claim their airdrop, you earn extra rewards. People who fill in the lucky code for the free airdrop can receive 150 FREE PANDA tokens.

2. Lucky Draw: By spending a minimum of 1 ICP, you can enter a draw to win between 1,000 and 100,000 PANDA tokens - all at random.

All airdrop and draw transactions are meticulously recorded for full transparency.

Demo video link:https://twitter.com/i/status/1771885542734754244
Demo images are below: